(CercleFinance.com) – The Paris Stock Exchange lost nearly 0.5%, around 6,400 points. In the absence of major indicators on the agenda, investors will be attentive to the quarterly results of companies.
Several leading companies must thus reveal their second quarter results, as bp did this morning, and as Ferrari must do again today.
In addition, nearly a third of S&P 500 companies are due to present their quarterly accounts this week, including some heavyweights such as AMD, Caterpillar, Kellogg’s and Uber.
Investors could nevertheless prefer to turn to assets deemed safer in the face of rising geopolitical tensions between China and the United States, exacerbated by Nancy Pelosi’s planned visit to Taiwan.
The latest manifestation of this dispute, Beijing has warned the United States that the People’s Army will not sit idly by if the speaker of the House of Representatives goes to the island state.
“We can expect a reaction from China and that the markets will be nervous,” warns Jim Reid, strategist at Deutsche Bank.
A Chinese Foreign Ministry spokesman said China would not hesitate to take ‘countermeasures’ to defend its sovereignty and the ‘one China’ principle.
Following these statements, the Tokyo Stock Exchange ended in sharp decline on Tuesday (-1.5%). In China, the CSI 300 index of large caps dropped 1.8% and the Hang Seng Hong Kong suffered losses of more than 2.5%.
In securities news, Bouygues publishes for the first half of 2022 a net profit group share down 64% to 147 million euros and a stable current operating margin at 2.7%, for a turnover up 6% to 18.5 billion (+3% at constant scope and exchange rates).
Pierre et Vacances announces an increase in capital with maintenance of preferential subscription rights, an operation which will give rise to the issue of a maximum number of 66,780,855 new ordinary shares at a unit price of 0.75 euro, i.e. a maximum gross amount of 50,085 €641.25.
At the end of its 2021-22 financial year, Vilmorin posted annual sales of 1.59 billion euros, up 7.5% with current data and 6.2% like-for-like, thus exceeding its latest target of around 5% like-for-like growth.
–
